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Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.
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Transcript of Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.
![Page 1: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/1.jpg)
Five Criteria for a Successful Business Plan in BiotechRoger Laurent Bernier, Ph.D., P.Ag.
![Page 2: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/2.jpg)
The Five Criteria are…
Management Management Management Management Luck…
![Page 3: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/3.jpg)
LUCKLUCK
Information gathering Technology or product fit in the
market place Intellectual property
management e.g. protection and freedom to operate
Sound financing strategy and revenue model
Strong management & corporate governance
Seriously, What About Those for a Start:
![Page 4: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/4.jpg)
Information Gathering
![Page 5: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/5.jpg)
The Dilbert Principe – A Cubicle’s Eye View of Bosses, Meetings, Managemend Fads & Other Workplace Afflictions - by Scott Adams, Harper Business, 1996
![Page 6: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/6.jpg)
About Information Gathering
The Dilbert principle states: “There are two major steps to building a business plan:
1. Gather information. 2. Ignore it.”
The Dilbert Principe – A Cubicle’s Eye View of Bosses, Meetings, Managemend Fads & Other Workplace Afflictions - by Scott Adams, Harper Business, 1996
![Page 7: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/7.jpg)
Information Gathering
The market place and your competition Market pull or technology push? Current market Emerging products and technologies
Product positioning Business and revenue model
Virtual, vertically-integrated, contract manufacturing organization, etc.
Financial information Budget Proformas Use of proceeds
Exit strategy
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Technology or Product Fit
![Page 9: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/9.jpg)
The Dilbert Principe – A Cubicle’s Eye View of Bosses, Meetings, Managemend Fads & Other Workplace Afflictions - by Scott Adams, Harper Business, 1996
![Page 10: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/10.jpg)
Technology Fit
Too late in a given market (innovative versus me-too product)
Too early in a given market Improved functionalities High COGS Product cycle too short Competition Pricing – market share
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Intellectual Property Management
![Page 12: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/12.jpg)
The Dilbert Principe – A Cubicle’s Eye View of Bosses, Meetings, Managemend Fads & Other Workplace Afflictions - by Scott Adams, Harper Business, 1996
![Page 13: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/13.jpg)
Intellectual Property Management Is your intellectual property
properly protected? Properly licensed?
Do you have freedom to operate?
Litigation strategy Plan the appropriate human
and financial resources
![Page 14: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/14.jpg)
Sound Financing Strategy& Revenue Model
![Page 15: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/15.jpg)
The Dilbert Principe – A Cubicle’s Eye View of Bosses, Meetings, Managemend Fads & Other Workplace Afflictions - by Scott Adams, Harper Business, 1996
![Page 16: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/16.jpg)
Good Financing Strategy and Revenue Model Money is like any other
commodities in your company: Timing and value Assess all kind of financing: debt,
equity, grants, etc. Investors’ interest and exit
Sound revenue model Realistic revenue forecast Margins Cashflow – operating budget
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Strong Management &
Corporate Governance
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The Dilbert Principe – A Cubicle’s Eye View of Bosses, Meetings, Managemend Fads & Other Workplace Afflictions - by Scott Adams, Harper Business, 1996
![Page 19: Five Criteria for a Successful Business Plan in Biotech Roger Laurent Bernier, Ph.D., P.Ag.](https://reader035.fdocuments.in/reader035/viewer/2022062423/56649e995503460f94b9c4d1/html5/thumbnails/19.jpg)
Strong Management & Corporate Governance
Think like a public company and adopt the appropriate measures
Surround yourself with seasoned managers and directors for governance and mentorship purposes
LISTEN and LISTEN and LISTEN
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The Ideal Business Plan
Don’t over describe the technology Be concise and accurate:
Patents versus applications FTO – licensing rights and obligations
Realistic projections including underlined hypothesis Budget always too low and sales too
high! Avoid the “We can do better” unless
you can prove it Never contradict yourself Don’t be afraid to say “I don’t know”
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In Summary, a Good Business Plan Should Answer the Following Questions:
Who are your customers? How will you reach these customers? What is it that your customers want and how do you
know this? How does your business provide customer wants? Do you know your business and how it should operate? Do you know your industry and the current trends in the
market? How are you qualified to do what you want to
accomplish? Do your assumptions make sense to someone unfamiliar
with your business? Are your financial projections believable and do they
make sense? How will you measure your progress financially and in
other ways? What will you do to make it easy for people to do
business with you? What differentiates your business from all the others in
your industry?
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My Humble Opinion…
The value of a given business plan does not reside inthe final document itself but in the process that led toits writing.
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The single most important aspect of a good business plan is that it must be based on your market and your customers' desires. What you want, and think, as a business owner is much less important than what your customers want and think. The reason for your business to exist is to create and service customers.
In Summary:
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THANK YOU